Market share

You can't be led by that at the moment.

What you have got to be led by is what is your profitable market share? So how many houses have completed in your area? And what's your conversion rate between instruction and completion? That's the key KPI that I would encourage all agents to look at at the moment.

What am I taking on? What am I paying for? And what percentage is actually completing? Because that's when you know, and Chris, we've discussed this before, it's it's not about collecting souvenirs at the moment it's about making your business profitable and and focusing on what we're taking on is completing um and it's not just we've got the largest market share which is actually costly we we want a balance we want great market share and we want to make sure that we've got what i i look at and i know data can be difficult it can be three months in a drift what is uh the most profitable market share in every area

And you're so right, Tobin.

And we're going to be looking at this in a little bit more detail later when we get to the Weybridge section.

Excellent.

So we're just going to move the date backwards to the 31st of October to enable us to create a level playing field because we're only two days in.

So the percentage of market share might be not so brilliant and a little bit skewed.

And we have to respond for the use of those investments.

And I have to say, effectiveness also has to do with driving category penetration and driving market share.

It's not just about, oh, let's grow.

Yeah, growth is great.

Each answer feeds the valuation.

On the exam, you determine size, growth, profitability, and share trends, a market share from segment revenue, and an industry total, top-down versus bottom-up, and growth versus mature.

Then return on invested capital, ROIC, against the weighted average cost of capital, WAC, as a spread or a ratio, and a Herfindahl-Hirschman Index, HHI, with the effect of a merger.

Industry size is the total revenue the industry earns from its own goods or services over a period.

It struggles when many private firms hold real share because there is little data, and when companies in several industries report their segments differently.

So when bottom-up is impractical, say in an industry of thousands of small businesses, analysts use top-down figures, government indicators, consultancy surveys, or industry data in companies' investor presentations.

Market share is the company's revenue from the industry's goods or services, divided by the industry's size, its percentage of total industry sales over the period.

The example, a cement producer in a regional market.

You're always you have to assume the market's not growing.

So you have to assume we're taking market share.

Yeah.

In your market, you are not too big for the market.

You just have to assume you have to take market share from somebody.

So it's not your size.

You're not that big.

I mean, compared to Tampa area.

And nobody likes that response, but...

The short of it is Linux has 1.54% market share of the desktop.

If they're relying on a market outcome to tell them what they should and should not do, they're going to look and go, hey, it's 1% of the market.

Who cares? and then again, just look right past it.

And, you know, As everybody knows, or most people that follow this stock would know anyway, that it competes, probably the biggest competitor is NetWealth.

Although I think it's undeniable that in recent years, Hub has kind of edged ahead in terms of it is taking market share more quickly than NetWealth.

and uh that was sort of one of the reasons that i'm like happy to own it is it had a lot of the signs of being uh slightly better than the competitors and another sign that in my opinion suggests that it's better than its competitors is that uh it sort of managed to avoid the um master shield and what is master shield and guardian what's it called again shield First Guardian.

First Guardian, that's it.